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03054 - [A1993073] 4& UMa EtUiQ~) 7i; /7
Efforts to Implement thae Employee Retirement Income Security Act
of 1974 by the Department of Labor. HED-77-99; B-164292. Jujy 6,
1977. 17 pp. , 2 appendices (2 pp.).
Report to Sen. Harrison A. Williams, Chairman, Senate Committee
on Human Resources; Sen. Jacob K. Javits, Ranking Minority
Member; by Elmer B. Staats, Comptroller General.
Issue Area: Income Security Programs: Programs to Protect
Workers' Incowe (1306).
Conliact: Humap Resources Div.
Budget FunctioL: Income Security: General Retirement and
Disability Insurance (6C1).
Organization Concerned: Department of Labor.
Congressional Relevance: Senate Committee on Human Resources.
Sen. Jacob K. Javi.s.
Authority: Employee Retiiement Inccme Security Act of 1974.
Members of congressional committees, Department of
Labor off.cials, and eaployee benefit plan admin:strators are
concerned about problems Labor ha3 experienced in administering
the Employee Retirement Income Security Act of 1974, the first
comprehensive Federal 'aw regulating employee benefits. Specific
concern has been expressed about delays in issnirug regulations
and acting on requests for exemptions from prohibited
transactions. Findings/Conclusions: After over 2 years of
program operations, the issue of how Labor should be organized
to carry out its respcnsibilities has not been resolved. Labor
has not determined the extent to which program inefficiencies
exist and are caused by the organization structure whica divides
the responsibility for administering the act between two
separate Labor organizations. Labor also has not determinel the
long-range enforcement needs of the program. Recommendations:
Before making & decision on reorganization, the Secretar7 of
Labor should assess the efficiency of the present Labor
organizational structure for administering the Employee
Retire .ent Income Security Act and the anticipated size of
future program operations. The Secretary should also closely
monitor the progress in issuing regulations and processing
applications for exemptions from prohibited transactions so that
these tasks can be accomplished without further delay. (SC)](ViewImageLocal?handle=hein.gao/gaobaacnf0001&div=1&collection=&method=preview&ext=.png&size=3)